What Brings Automotive Industry to a Community?
Mark Sweeney
The Industry
These are particularly dynamic times in the automotive industry, and this presents new opportunities and new risks in the recruitment of automotive industry investment. As a very globally-focused industry, recent mega-trends are impacting the domestic sphere in new ways.
• The adage of “build it where you sell it” has been the guiding mantra for most automotive firms for some time. However, this strategy is being challenged by the dramatic currency market changes that have put the U.S. dollar in a much weaker position versus other currencies – a position that does not appear to be a brief aberration. Newer players in the market (large firms in India and China for example) seem focused at this point on producing the components and assembling cars in the lowest cost location, regardless of sales markets. (more)